China plans to cooperate with Russia in internet trade, space and aircraft industry

Russia and China should take all the necessary measures to chiefly provide a stable volume of bilateral trade, said premier of the People’s Republic of China

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BEIJING, March 15. /TASS/. China’s authorities intend to develop cooperation with Russia in the sphere of internet trade, space and aircraft industry to double the volume of bilateral trade, increasing it to $200 billion, Premier of the People’s Republic of China Li Keqiang told TASS at a news conference on Friday.

"We should work together to further extend the spheres of bilateral cooperation. We will continue to develop cooperation in the sphere of trade, in particular strengthen cooperation between small Russian and Chinese entities, build up cooperation in internet commerce, space and aircraft industry, as well as build up exchanges between the nations of the two countries," Li Keqiang stated.

"Russia and China should take all the necessary measures to chiefly provide a stable volume of bilateral trade of $100 billion and to double it in the future," Li Keqiang said.

According to the statistics provided by China’s General Administration of Customs, the volume of trade between Russia and China for January-February increased by 1.7% year-on-year, reaching $16 billion: exports from China to Russia for the specified period decreased by 4.8% and stood at $7.07 billion. The import of Russian goods and services to China increased by 7.5%, reaching $8.97 billion.

The trade turnover between Russia and China increased by 2.2% year-on-year, up to $69.52 billion, for 2016. In 2017, this indicator increased by 20.8%, reaching $84.07 billion. In 2018, it increased by 27.01%, exceeding $107 billion.

The news conference was held after the end of the second session of the 13th National People's Congress.